Celldex Therapeutics (NASDAQ:CLDX) Shares Down 4.5% – Time to Sell?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) shares fell 4.5% during trading on Monday . The company traded as low as $20.35 and last traded at $20.39. 155,730 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 915,662 shares. The stock had previously closed at $21.35.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CLDX. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research note on Tuesday, May 6th. Canaccord Genuity Group initiated coverage on shares of Celldex Therapeutics in a research report on Monday, April 28th. They set a “buy” rating and a $64.00 price objective on the stock. UBS Group cut their price target on Celldex Therapeutics from $44.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group lowered their price objective on shares of Celldex Therapeutics from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Finally, Morgan Stanley cut their target price on shares of Celldex Therapeutics from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.90.

Celldex Therapeutics Stock Down 3.9%

The firm’s 50 day simple moving average is $18.98 and its 200 day simple moving average is $21.95. The company has a market capitalization of $1.36 billion, a PE ratio of -7.95 and a beta of 1.33.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). The business had revenue of $0.70 million for the quarter, compared to the consensus estimate of $1.08 million. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. As a group, sell-side analysts predict that Celldex Therapeutics, Inc. will post -2.48 EPS for the current fiscal year.

Institutional Trading of Celldex Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in Celldex Therapeutics by 6.9% in the first quarter. Rhumbline Advisers now owns 98,266 shares of the biopharmaceutical company’s stock valued at $1,784,000 after acquiring an additional 6,327 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Celldex Therapeutics by 12.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company’s stock worth $2,383,000 after acquiring an additional 14,979 shares in the last quarter. Millennium Management LLC increased its stake in shares of Celldex Therapeutics by 327.3% in the 1st quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock valued at $7,259,000 after purchasing an additional 306,330 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Celldex Therapeutics by 1.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock worth $798,000 after buying an additional 680 shares during the period. Finally, ADAR1 Capital Management LLC acquired a new stake in Celldex Therapeutics in the 1st quarter worth about $265,000.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.